Blackstone to acquire US logistics assets of GLP for $18.7bn.

Blackstone Group agreed to acquire US logistics assets of GLP, a Singapore-based investment holding company, which owns, manages, and develops logistics facilities, for $18.7bn. This overall transaction totals 179m square feet of urban, infill logistics assets, nearly doubling the size of Blackstone’s existing US industrial footprint. Ken Caplan, Global Co-Head of Blackstone Real Estate, commented: “Logistics is our highest conviction global investment theme today, and we look forward to building on our existing portfolio to meet the growing e-commerce demand. Our global scale and ability to leverage differentiated investment strategies allowed us to provide a one-stop solution for GLP’s high quality portfolio.”